Evonik Industries AG successfully concluded the refinancing of its existing € 1.5bn syndicated credit facility on August 2, 2011. With the refinancing, Evonik benefits from a significantly improved market environment as well as its investment grade classification, obtained for the first time in May 2011, from rating agencies Standard & Poor’s (BBB/stable) and Moody’s (Baa3/positive). The new credit facility is split into three equal tranches with terms of three, four, and five years. The facility serves for central liquidity management and is not currently being drawn. Evonik CFO Wolfgang Colberg says: "With this transaction we have created a sound liquidity reserve that will support our strategy of organic growth. We hereby benefit from our long-term relationship with strong banking partners." A total of 27 national and international banks are participating in the financing, underscoring the trust that Evonik enjoys as a globally operating corporation.
Mandated lead arrangers and bookrunners:
Banco Bilbao Vizcaya Argentaria S.A. (BBVA), Bank of America Merrill Lynch, Barclays Capital, BayernLB, BNP Paribas, Citi, Commerzbank Aktiengesellschaft, Crédit Agricole Corporate and Investment Bank Deutschland, CREDIT SUISSE, Deutsche Bank AG, DZ BANK AG Deutsche Zentral-Genossenschaftsbank Frankfurt/Main, Goldman Sachs, HSBC, INTESA SANPAOLO S.p.A., J.P. Morgan
Limited, Mizuho Corporate Bank, Ltd., SOCIETE GENERALE, The Bank of Tokyo-Mitsubishi UFJ, Ltd., Düsseldorf Branch, The Royal Bank of Scotland, UniCredit Corporate Investment & Banking, WestLB AG.
Landesbank Baden-Württemberg, Landesbank Hessen-Thüringen Girozentrale, MORGAN STANLEY, SEB AG, Standard Chartered Bank, WGZ BANK AG
The transaction was prepared and handled by BNP Paribas, Deutsche Bank AG, and The Royal Bank of Scotland as coordinators.
Evonik is the creative industrial group from Germany. In our core business of specialty chemicals, we are a global leader. In addition, it has energy and residential real estate operations. Our performance is shaped by creativity, specialization, reliability and continuous self-renewal.
Evonik is active in over 100 countries around the world. In fiscal 2010 more than 34,000 employees generated sales of around €13.3 billion and an operating profit (EBIDA) of about €2.4 billion.
In so far as forecasts or expectations are expressed in this press release or where our statements concern the future, these forecasts, expectations or statements may involve known or unknown risks and uncertainties. Actual results or devel-opments may vary, depending on changes in the operating environment. Neither Evonik Industries AG nor its group companies assume an obligation to update the forecasts, expectations or statements contained in this release.